Retail premises for sale in Westgate Alms Houses, West Street, Warwick CV34

£29,999
Retail premises for sale
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Property description

Business
Please quote reference B04983

Hilton Smythe welcomes to the market, ae Contemporary Art.

The owner has advised that he is open to offers on the business, with the stock optional. He has also confirmed that the shop can be sold for a change of use.

Ae Contemporary Art was founded by the current owner over 30 years ago and has traded from the impressive current premises for 20 years. The business has been a real labour of love for the owner and is a well-stocked and beautifully presented Art Gallery.

The business is now being sold, albeit reluctantly and with a heavy heart only due to ill health and the wish to take a well-earned retirement. The owner is keen to see his beloved business pass to an ambitious and entrepreneurial new owner who can take this great little business to the next level.

Additionally, the business sells a varied collection of art from a select number of local and international respected and award winning artists.

The business also has a collection of Modern British art (Sir Terry Frost and Mary Fedden etc) and Contemporary Art (Damien Hirst, Tracey Emin etc.

Artists also include famous names such as:

• Gilbert & George
• Dan Baldwin
• James Bartholomew
• Quentin Blake
• Sandra Blow
• Pure Evil
• Handiedan

The business also offers a picture framing service, until recently this was carried out ‘in house’ by the current owner but currently is being sub contracted out, due to the owners health problems.

This service could be easily reinstated and a new owner with basic diy skills could learn how to do so after a one-day training course. This was previously a lucrative income stream.

Scope to Improve

• Advertising and marketing campaign
• Maximise the use of social media particularly Twitter and Instagram
• Update the existing website ideally adding an e commerce facility
• Extend the opening hours
• Reintroduce a range of jewellery, proved very popular previously
• Stock a range of scented candles
• Introduce home furnishings, Warwick is a salubrious area and there is real demand for this.

Reasons to Buy

• A long-established business with an enviable reputation and many existing customers
• Prime trading position in the main shopping area with loads of footfall
• Current owner happy to offer a handover to ensure the continued success
• A real opportunity to increase turnover significantly, currently being run at a pace to suit due to health issues
• Picture framing equipment worth approximately £5000 is included and training can be arranged
• Offers subletting possibilities
• All fixtures and fittings included making this a real Turnkey business opportunity
• The generous premises are ideal for alternative business use
• Perfect owner managed or partnership business
• Little or no competition locally

Hilton Smythe highly advise early viewing to avoid disappointment.

This lovely little business is likely to attract considerable interest.

Location
ae Contemporary Art is located in the county town of Warwick.

Warwick is the county town of Warwickshire. It lies near the River Avon 11 miles south of Coventry and just west of Leamington Spa and Whitnash. At the 2011 census the population was 31,345.

Due to its proximity to north-south and east-west motorway routes, many companies have their head office in the town. Since November 2004, National Grid plc has had its UK head office on the Warwick Technology Park south of the town between the A425 road and A452 road. Other businesses with head offices here include Bravissimo, ibm, Gerflor, Bridgestone, Calor, Cantor and Delphi Automotive.

Warwick is on the M40 London to Birmingham motorway, connected to junctions 13,14 and 15 and is on the A46 dual-carriageway trunk road positioned between Coventry and Stratford Upon Avon. The town has a railway station with direct rail services to Leamington Spa, London, Birmingham and Stratford Upon Avon provided by Chiltern Railways. Bus services to Leamington Spa, Stratford Upon Avon and Coventry are operated by Stagecoach in Warwickshire from the bus station in the town centre.

Ae Contemporary Art is ideally positioned in the main shopping area of the town alongside other complimentary retail businesses and thus benefits from high levels of footfall and passing trade.

The business is beautifully presented and maintained with a real upmarket feel and clear visible signage and distinctive livery. There is metered, on street parking immediately outside the premises and there is also a number of inexpensive public car parks within easy walking distance.

Premises
ae Contemporary Art occupies the ground floor of an end terraced retail unit and is generously proportioned at approximately 84 square meters.

The shop / gallery was formerly two separate shops units and could quite easily be reinstated. The business really is beautifully presented and maintained and briefly comprises;

Shop / Gallery

• Floor to ceiling windows
• Two glazed doors to front creating a light, airy and inviting interior
• Cleverly designed to maximise the space available
• Expensive looking wood effect flooring
• Suspended ceiling with spot lighting
• Number of glass display cabinets
• 7 jewellery cabinets
• Counter with generous wrapping area
• Circular wooden table with chairs

Stockroom
To the rear of the main shop and gallery is a generous stockroom with perimeter shelving and floor storage space

WC’s
There are two washrooms, each with a close coupled toilet and hand wash basin

Store
There is a useful walk in store

Externally
To the rear of the business is a secure, shared yard with an allocated parking space.

Tenure
We are advised that the ae Contemporary Art is being sold as a Leasehold business opportunity.

The existing lease has one year remaining and we are advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.

The rent is £24,000 per annum which is really reasonable given the size and location of the business.

We are advised that the business rates payable are £9000 Per Annum.

Hours
Monday to Saturday 9.30 am - 5.30 pm
Sunday Closed

Staff
The business is run and managed by our client with the help of his Mother.

Financial Profile
ae Contemporary Art generates an advised current turnover of circa £70,000 per annum but it needs to be appreciated that the business is currently being run at a pace to suit due to health issues.

The business has enjoyed higher turnover previously in the region of £110,000 per annum.

Please quote reference B04983

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For more information about this property, please contact
Hilton Smythe Business Sales, BL1 on +44 1204 351867 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Business Sales, and do not constitute property particulars. Please contact Hilton Smythe Business Sales for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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